Korea Trade Insurance Corporation (Ksure) Information

Korea Trade Insurance Corporation (K-sure) was founded by the Korean government in 1992 to operate export and import insurance programs for the purpose of facilitating global trade. The export insurance system is a policy tool that indemnifies losses suffered by exporters after the shipment of export goods/services and by financial institutions after providing export financing to exporters. Broadly, export insurance covers ① the political risk such as war/revolution/rebellion, limitations imposed on importation and foreign currency exchange, declaration of moratorium, etc in importing countries, and ② the commercial risk such as non-recovery of export proceeds and in the case export itself being impossible due to importer's poor credit, bankruptcy, refusal to pay export proceeds, etc. We covered 32% of the total exports of Korea in 2009, meeting demand from our clients ranging from domestic large and small/medium businesses to domestic as well as foreign financial institutions. K-sure is growing to provide comprehensive financial support services related with overall trade; from covering the non-payment risk of export proceeds to helping exporters and importers to obtain financing needed at the time of procuring raw materials and from the time of manufacturing until export proceeds is recovered.